Coatings World - July 2017

13. Hempel A/S
Kgs. Lyngby, Denmark
www.hempel.com

PRIVATE COMPANY; YEAR ESTABLISHED: 1915

REVENUE: $1.575 billion t (2015: $1.734 billion)

MARKETS SERVED

Architectural; Marine and protective coatings; Container coatings; Yacht coatings;

Decorative coatings

KEY EXECUTIVES

Henrik Andersen, group president & CEO; Anders Boyer-Søgaard, EVP & CFO; Lars Petersson, EVP & COO; Michael Hansen, EVP & CCO; Peter Kirkegaard, EVP & CPCO;

Marketing directors: Klaus Moeller (Protective), Christian Ottosen (Marine), Thomas C.

Olsen (Yacht); Signe Muck (Group R&D).

Protective coatings supplier, Hempel, recorded sales of $1.575 billion in 2016. Hempel employs approximately 5,787 people and is present in more than 80 countries and has 28 factories, R&D centers and more than150 stockpoints around the globe.

“2016 has generally been a good year for the coatings industry
although the markets are becoming increasingly volatile,” said Hen-
rik Andersen, CEO of Hempel. “Overall, we have seen growth in
the market but also a few segments
with challenging conditions, notably
a further weakening of shipbuilding
activity in marine and a limited level
of investment in upstream oil and
gas. 2016 was also marked by a re-
cord level of M&A activity, includ-
ing a few very big deals. We expect
the industry consolidation trend to
continue in the coming years. The
consolidation trend requires that
Hempel has a global presence and continued growth so that we are
able to continue servicing our customers globally.”
“We expect the coatings market to remain challenging in 2017,
especially the marine and the oil and gas industries where invest-
ments remain low,” he continued. “However, we look forward to
another year of solid progress with organic growth returning to
positive territory, continued strong margins and further reductions
in our net working capital. Our internal excellence projects are al-
ready beginning to pay-off – not just in terms of cost reductions
and greater efficiency, but also by streamlining our processes and
developing our capabilities.”